You need to understand the intensity, momentum with which prices have been moving. It was expected to remain rangebound but the momentum is so much that it has been continuing to trend. When the prices trend, we get the chance to enter in the form of TRAP entry. Here the level around 8820 (last pullback low) may act as a range and give us TRAP. In fact, it did TRAP pattern to initiate long. If it does not work then prices may not break the highs and small SL will get hit. That is the minimum risk. If you are willing to take this small risk, look for trade or wait for more confirmation. Now the range low has shifted to 8816.URD

About me and this blog in brief

My name is Uday Dave. I am a full-time day trader, blogger and day trading educator. I mainly day trade Nifty, Bank Nifty, stocks and stock options and in the evening if I get time I trade MCX Crude Oil, Nickel and Silver using a 3-minute candlestick chart with Decision Point Trading System and price action trading methods. My only aim is to capture small moves, i.e. 20 to 25 points in Nifty and around 50 points in Bank Nifty daily.
I started this blog in year 2012 to record my trades, observations, experiences and to share them with other aspiring traders. I hope with all your support I will be able to continue to maintain this blog and improve further.